UPSC Exam > UPSC Questions > Consider the following statements regarding I...
Start Learning for Free
Consider the following statements regarding Index of Industrial Production (IIP):
1. Base Year for IIP is 2017-2018.
2. It is released by the Ministry of Commerce and Industries.
3. The core industries have a combined weight of around 40% in the Index of Industrial Production (IIP).
Which of the statements given above are not correct?
1. Base Year for IIP is 2017-2018.
2. It is released by the Ministry of Commerce and Industries.
3. The core industries have a combined weight of around 40% in the Index of Industrial Production (IIP).
Which of the statements given above are not correct?
- a)1 and 2 only
- b)2 and 3 only
- c)1 and 3 only
- d)1, 2 and 3
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Consider the following statements regarding Index of Industrial Produc...
Index of Industrial Production
- IIP is an indicator that measures the changes in the volume of production of industrial products during a given period.
- It is compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.
- Hence, statement 2 is not correct.
- Base Year for IIP is 2011-2012. Hence, statement 1 is not correct.
About Eight Core Sectors:
- These comprise 40.27% of the weight of items included in the Index of Industrial
- Production (IIP). Hence, statement 3 is correct.
- The eight core sector industries in decreasing order of their weightage: Refinery
- Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers
Most Upvoted Answer
Consider the following statements regarding Index of Industrial Produc...
The correct answer is option 'A': 1 and 2 only.
Explanation:
1. Base Year for IIP is 2017-2018: This statement is incorrect. The base year for the Index of Industrial Production (IIP) in India is not fixed. It is periodically revised to capture changes in the industrial structure and production patterns. The latest base year for IIP is 2011-2012.
2. It is released by the Ministry of Commerce and Industries: This statement is incorrect. The Index of Industrial Production (IIP) is released by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation. The CSO is responsible for collecting, compiling, and disseminating official statistical data in India.
3. The core industries have a combined weight of around 40% in the Index of Industrial Production (IIP): This statement is correct. The core industries, also known as the Eight Core Industries, have a significant weightage in the calculation of the Index of Industrial Production. These industries include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. They represent the key sectors of the economy and their performance has a direct impact on the overall industrial production. The combined weight of these core industries in the IIP is around 40%.
In summary, the incorrect statements are:
1. Base Year for IIP is 2017-2018.
2. It is released by the Ministry of Commerce and Industries.
Explanation:
1. Base Year for IIP is 2017-2018: This statement is incorrect. The base year for the Index of Industrial Production (IIP) in India is not fixed. It is periodically revised to capture changes in the industrial structure and production patterns. The latest base year for IIP is 2011-2012.
2. It is released by the Ministry of Commerce and Industries: This statement is incorrect. The Index of Industrial Production (IIP) is released by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation. The CSO is responsible for collecting, compiling, and disseminating official statistical data in India.
3. The core industries have a combined weight of around 40% in the Index of Industrial Production (IIP): This statement is correct. The core industries, also known as the Eight Core Industries, have a significant weightage in the calculation of the Index of Industrial Production. These industries include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. They represent the key sectors of the economy and their performance has a direct impact on the overall industrial production. The combined weight of these core industries in the IIP is around 40%.
In summary, the incorrect statements are:
1. Base Year for IIP is 2017-2018.
2. It is released by the Ministry of Commerce and Industries.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
Question Description
Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
Solutions for Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements regarding Index of Industrial Production (IIP):1. Base Year for IIP is 2017-2018.2. It is released by the Ministry of Commerce and Industries.3. The core industries have a combined weight of around 40% in the Index of Industrial Production(IIP).Which of the statements given above are not correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup